The Davao City Investment Promotions Center (DCIPC) revealed that Davao City has an uptick 51.8% in terms of its Growth Regional Domestic Product (GRDP), the biggest share among the region’s economy.
During the Habi at Kape forum on March 6, Christian Cambaya, DCIPC Unit head said the city’s GRDP is attributed to the growth of its services industry.
“This is actually because of the growth of the services industry: hotel accommodations, restaurants, BPOs (Business Process Outsourcing). There’s a lot of big BPOs coming in, especially big ones. Last year, we welcomed two big BPOs from Manila,” Cambaya said.
According to their data, Davao City generated P495.31 billion GDP in its performance in 2021-2022 from the overall P954.07 billion GDP for the whole Davao Region, and offered 70.4% in terms of services in the region.
Cambaya said the investment aspect in Davao City turned out in an upbeat manner, especially after the pandemic.
“We just had the figure from the Business Bureau for the last 5 years. Well, it drops during the pandemic. But it came up again after the pandemic, and there’s actually an 8% increase from the Business Bureau from this year to last year,” he said.
He also said the office has been conducting investment and tourism roadshows to further promote Davao City as an investment destination, and had already lined-up three countries for the activity.
“We have two sister cities in Japan, Sena and Kitakyushu, and we also visited China to conduct investment and tourism roadshows, similarly. We ‘ve just been finalizing the next three countries for this year, and that is one of the main programs of the city government,” he added.
He added this will also provide more investors and employment opportunities to all Davaoeños.
The Davao City Investment Promotions Center continuously provides support to the city’s investors through fiscal and non-fiscal incentives.
File Photo from DCIPC FB Page
